Vision and Mission:

The vision of the Department is to have a transparent, efficient and proficient group of professionals. The Mission of the Department is to keep the accounts of the Institution up-to-date in a transparent and time-bound manner as per the rules and regulations.

Goals and objective:

As quoted by Henry Ford “Coming together is a beginning; keeping together is progress; working together is success.” The Department believes in the objective of creating a collegial environment that fosters productivity through teamwork, ensuring financial stability, utilizing professional skills for effective functioning of the timely accounting and financial operations.

Organization Chart:

The Accounts Department is headed by Accounts Superintendent who is assisted by nine staff members. The Establishment Section is headed by Establishment Superintendent who is assisted by two staff members.

Key Functions of Accounts Section:

• Centralized accounting for all the distinct units of FMCI.
• Verification of all invoices submitted by vendors and claims submitted, with compliance to the policies of the Institution and in accordance with the systems and processes ensuring statutory compliance.
• Cash payments (disbursements).
• Statutory compliance.
• Procurement management, systematic preparation and implementation of budgets.
• Interim and annual financial statements.
• Maintain, verify and update accounting journals, ledgers, other relevant financial records and regularly monitor transactions.
• Documentation of books of accounts and systematic record keeping of all financial transactions.

Key Functions of Establishment Section:

Payroll Management:

• Collect, compile and enter payroll data using appropriate software.
• Review and verification of source documents, process payroll by established deadlines.
• Issue statements of earnings and deductions, reconcile employee deductions.
• Payments and filing returns of PF, TDS, ESI.
• Update payroll records by recording changes including insurance coverage, welfare fund payments and salary increments, process records of new employees, terminations, transfers and promotions payments.
• Prepare and print payroll reports of earnings, taxes, insurance, leave, PF, TDS, ESI and address employee’s pay related concerns.
• Documentation of comprehensive payroll records.
• Statutory compliance with regulations and guidelines.

Staff:

• Accounts Department : 10
• Establishment Section : 3